Winston Rowe & Associates understands that investing in an apartment building is a serious matter and requires a lot of time, knowledge of the minutest details and other property implications to decide on the best possible deal.
To speak with an apartment building specialist you can contact Winston Rowe & Associates directly at 248-246-2243 or visit them on line at http://www.winstonrowe.com Facilities Costs:
There are several things to consider when buying an apartment building; of these utilities is a particularly important part. For example, if the apartments do not have individual electric meters then you may have to pay all the electricity bills which is not an ideal scenario when renting out a place. In this case, if you do not want to install electric meters. You may include the electricity charges in the rent itself and therefore charge a higher amount. Of course if the people kept on rent realize that they are not specifically being asked to pay for the electricity used then they may simply misuse or overuse it deliberately or even unconsciously. And this can cause your electricity bills to be particularly high and therefore can result in reduced financial results in some months.Quality and Location:
The apartments also have to measured before buying an apartment building. There are less takers for very small apartments. Also, the number of rooms in an apartment may determine the odds of getting new tenants. Typically, the higher the number of rooms, the more are the chances of successfully renting it out. The location of the apartment building has to be taken into account as well. If it's located nearer to important structures such as schools, hospitals, businesses or public transport points, then the apartments will become much more appealing.Market Research and Financial Analysis:
Winston Rowe & Associates has an excellent knowledge based investor resource for commercial real estate valuation and market analysis located at:http://www.winstonrowe.com/Free_Real_Estate_Resources.html
The next step is to look for properties which fit your requirements. You don't need to employ a broker to do your negotiations; you can call up the landlord himself. Tact is necessary in this case and also an explanation as to your own identity and intentions. If the landlord refuses you can give him your contact numbers. A lot of investors buy from owners who change their minds. If however, the owner is interested, ask for the rent rolls and other financial and operational details of the place (as your offer will be based on that). Reports on total income for past year also have to be looked through. You can then make an offer as you see fit.Financing Options:
Winston Rowe & Associates has a core focus on building long-term relationships, delivering exceptional and individualized customer service, and positioning loan products that best achieve their clientâ€™s goals. Their preemptive problem-solving approach is perfect for clients with credit and time sensitive issues.
Winston Rowe & Associates
31408 Harper Ave
Saint Clair Shores MI 48082
Winston Rowe & Associates has no upfront free commercial loans in the following states.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Â Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Â Texas, Utah, Vermont, Virginia, Â Washington, Washington DC, West Virginia, Wisconsin, Wyoming